Today, even housewives in search of liquidity have the possibility of accessing forms of financing dedicated to them. Until recently, this form of loan was not always provided. Only in recent years have banks and specialized institutions shown a certain openness towards housewives. The profound changes suffered by the financial markets and the changes in our society have shifted the banks’ attention to this category of workers.
Loan for housewives
The loan for housewives is one of the most popular atypical loans in recent years. It belongs to the forms of ” new financing” dedicated exclusively to the female world. The recipients of these financial instruments are, in fact, all those women who do not have a fixed income as they take care of the home. Those women who have a part-time work contract can also access this form of financing.
This peculiar financial instrument is part of the category of “non-finalized personal loans ” in which the amount of the requested sum is not very high. Furthermore, the request for financing for housewives must not be justified to the bank or the credit institution.
As anticipated, the amount provided is very low: we speak of a maximum of 3,000 USD. The reason is very clear: housewives have no work contract and, therefore, the bank or credit institution that provides the loan does not enjoy the same guarantees in the case of a loan granted to employees.
Usually the housewife who asks to be able to access this type of financing does it because she needs a not very high amount of money to buy appliances or to sustain expenses for the family or because she needs to buy furniture accessories.
But how does the loan for housewives work and how is it obtained?
First of all it is necessary to have a good credit history or not to have suffered protests and not to be “bad payers”. If the housewife, in the past, has already obtained loans, she will have to prove that she has always been punctual in payments. One of the most interesting and special elements of the loan for housewives is a much smoother and less rigid repayment plan than traditional loans. In fact, it does not exceed 24 months.
Peculiar is the credit card (revolving card) that can be delivered to the housewife who has requested access to a loan for an amount up to 1,500 USD. This credit card allows you to make all the necessary purchases: the capital, in this case, is not deducted from the card at the end of the month. Once the money disbursed with the loan has been terminated, the housewife will have to pay the full amount by paying monthly installments previously agreed with the credit institution that paid the sum and delivered the revolving card.
Often, however, the loans for housewives obtained through revolving paper end up being too burdensome. In similar cases, before signing any contract, it is advisable to evaluate the APR (Effective Global Annual Rate) which offers a precise indication of the actual cost of the loan.
Furthermore, the loan for housewives can be of two types:
- with guarantor: when the woman requesting the loan is unemployed, she will need a guarantor. The latter (often a parent, a relative, husband or a son) should be reliable from an economic point of view as it will be forced – along with home – the payment of principal;
- without guarantor: if the woman works with a part-time contract and therefore has a job, she will not need any guarantee.
In addition to the revolving card, the housewife can obtain a loan to start a business or a start-up. In this case, then, it will be granted to carry out an activity and not to purchase goods. These are funds granted to carry out a commercial activity obtained through a loan. The bank or the specialized institute will provide a sum of money which must be returned only in part.
It is possible to request this peculiar type of loan through regional tenders which are periodically published.
We have pointed out that loans for housewives involve very low amounts. In a particular case, however, the woman will be able to obtain larger sums on loan. It is possible that the housewife, despite having no income, owns a property. Only in this case the bank can decide to pay a higher sum of money because it will have the property to guarantee the loan. It is clear that the external guarantor will no longer be necessary: this figure will be replaced by a mortgage loan.